India seen as world`s tech garage |
As the world continues to grapple with the COVID-19 pandemic, the remarkable resilience of India`s tech industry has been on full display. With investments soaring to a mammoth $38 billion. Its significant portion comes from software as service-based companies, which witnessed a major growth brought about by increasing demand for digital tools and automation amid the current crisis. India is the youngest country in the world with a vibrant start-up ecosystem. In 2019 alone, over 1,300 start-ups were added, thereby solidifying India`s position as the third-largest start-up ecosystem in the world. This attracted investments of $17.3 billion and registered a yearly growth of 60.5%. Investor confidence in India has never been higher and India has been able to turn the COVID-19 crisis into an opportunity by positioning itself as the preferred investment destination. The strong and sustained growth and innovation in the technology space presents a unique opportunity for India to position itself as the `Tech Garage of the World`. Through the development of innovative digital and technology solutions, India can successfully find solutions to the massive and intractable challenges across sectors such as healthcare, education, financial inclusion, modernization of agriculture and others. India has a crucial role to play in positioning itself as the Tech Garage of the World.
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